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Bank guarantee

Contract between a bank as guarantor and a beneficiary in which the bank commits itself to pay a certain sum under certain, specified conditions. Thus, a demand guarantee is one in which the bank agrees to pay against the simple written demand of the beneficiary.

News On Bank guarantee
GoAir makes part payment of Rs 15 cr to clear AAI dues

18-04-2016| Source:PTI

AAI had last week served a notice to GoAir, asking it to pay at least Rs 15 crore by today as its dues had gone up by more than its bank guarantee limit.

Govt to work on six fronts to revive exports  

06-04-2016| Source:PTI

zones (SEZs); according priority sector status to export credit; involving embassies to promote trade; incentives for organic food sector.Other focus areas would be addressing issues of EXIM Bank

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